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AIB Current account to basic account

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  • 22-10-2020 1:21pm
    #1
    whizkid9
    Registered Users Posts: 100 ✭✭


    I have an AIB current account. Possible to cancel my current account and switch to a basic account? AIB introducing maintenance charges for current accounts from next month


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    #2
    coylemj
    Registered Users Posts: 25,345 ✭✭✭✭coylemj


    Look at what you're using your current account for at the moment, then figure out (by checking the AIB website) if you will have those facilites if you switch to a savings account. Because that's the type of account I assume you mean by 'basic'. You will definitely lose some functionality if you choose to avoid paying fees.


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    #3
    Limpy
    Users Awaiting Email Confirmation Posts: 1,105 ✭✭✭Limpy


    I opened a kbc account for free banking (if 2k per month goes in) to replace my aib current account. Keep your savings in the basic AIB account incase you need to withdraw a large sum of cash.


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    #4
    JTMan
    Registered Users Posts: 5,537 ✭✭✭JTMan


    whizkid9 wrote: »
    I have an AIB current account. Possible to cancel my current account and switch to a basic account?

    Probably no. Generally Basic Accounts are reserved for those who do not have a bank account with any Irish bank.

    KBC, N26, EBS, Revolut, Monese, and KBC will give you free euro banking if you comply with terms.


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    #5
    landofthetree
    Registered Users Posts: 2,303 ✭✭✭landofthetree


    The basic account is to comply with an EU directive. Banks have to offer you a current account if you dont have an account with another bank in that country.

    As soon as a certain amount of cash is deposited into a basic account they upgrade you.
    3.2 We will convert your Account to another type of personal
    current account to which additional fees and charges may
    apply in the following circumstances:
    a) where on any annual anniversary of the date of
    opening of your Account the total yearly value of
    payments to your Account in the previous year exceeds
    the National Minimum Wage Threshold;


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    #6
    Limpy
    Users Awaiting Email Confirmation Posts: 1,105 ✭✭✭Limpy


    landofthetree wrote: »
    The basic account is to comply with an EU directive. Banks have to offer you a current account if you dont have an account with another bank in that country.

    As soon as a certain amount of cash is deposited into a basic account they upgrade you.

    My money is in a 7 day notice account. If they decide to change it I'l move it.


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    #7
    Delta2113
    Registered Users Posts: 2,669 ✭✭✭Delta2113


    https://www.ebs.ie/daily-banking/ebs-moneymanager-account-and-debit-card - Switch to EBS totally FREE Account.


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    #8
    maneno
    Registered Users Posts: 231 ✭✭maneno


    whizkid9 wrote: »
    I have an AIB current account. Possible to cancel my current account and switch to a basic account? AIB introducing maintenance charges for current accounts from next month

    not possible unfortunately as you already have an account


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    #9
    JTMan
    Registered Users Posts: 5,537 ✭✭✭JTMan


    Mr.S wrote: »
    Credit Unions are probably the best option if you really want "free" banking.

    The credit union currentaccount.ie product is not free.


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    #10
    c.p.w.g.w
    Registered Users Posts: 4,994 ✭✭✭c.p.w.g.w


    I thing i find utterly ridiculous re:Banks

    They have my money, they charge me to keep it safe...But i can't go in and withdraw it all without forewarning them...I was looking to withdraw 5 grand in cash from BOI a few months back...By christ did they make it difficult


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    #11
    Eggs For Dinner
    Registered Users Posts: 2,941 ✭✭✭Eggs For Dinner


    c.p.w.g.w wrote: »
    I thing i find utterly ridiculous re:Banks

    They have my money, they charge me to keep it safe...But i can't go in and withdraw it all without forewarning them...I was looking to withdraw 5 grand in cash from BOI a few months back...By christ did they make it difficult

    Good to hear in this era of identity fraud


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    #12
    c.p.w.g.w
    Registered Users Posts: 4,994 ✭✭✭c.p.w.g.w


    Eggs For Dinner wrote: »
    Good to hear in this era of identity fraud

    Well my passport & driving license were shown...in fact the same passport that they have on file for reference...and i still look the same as in the picture(well maybe plus a few lbs)


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